Business 90 – 90 Day Notice Deposit

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,040.50.

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.

Available to UK registered Private Limited Companies, Sole Traders and Partnerships.

This account can be opened and managed by post or at any of our branches and agencies. You can also manage your account by telephone. Complete the application form and the declarations and consents. Take the completed documents, your deposit and the required identification to one of our branches or agencies, or post them to us at the address in this document.

At least one Director must be a signatory, with a maximum of four signatories to the account. For partnerships, all Partners must be signatories to the account. You will be given a passbook to help you keep a record of your transactions.

The minimum deposit required to open and maintain this account is £1,000 and the maximum deposit is £500,000. The opening deposit must be by a cheque drawn on the company’s bank account and payable to your company name, or by electronic funds transfer from the company’s bank account. Cash deposits are not allowed to be paid into the account.

Please note, the minimum deposit must be credited to your account within 5 working days of the account being opened. If you fail to do so, you will be required to restart the application process.

Further Deposits

You may pay in cheques at any of the Society’s branches or by post. Deposits can also be made by electronic funds transfer. To make an electronic funds transfer use sort code 40-05-30 and our account number 74575938 and quote your Business 90 account number (all 11 digits), which must be used in the roll or reference number field. Where the deposit is made by post, the passbook will be returned to your business address.

Contact our Business Account Helpline on 01455 894060 if you require any assistance. Opening hours are 9am to 5pm, Monday to Friday (closed on Bank Holidays).

Withdrawals can only be made by electronic funds transfer and will only be sent to the company’s nominated bank account from which the funds to open the account were drawn.

Withdrawals can be made subject to a 90 day notice period. Withdrawals must be made within 14 days of the notice period becoming effective. Instant withdrawals outside of the notice period will not be allowed. The total amount on notice (including all pending notice) must not be more than the balance of the account.

You can give notice by telephoning the Business Account Helpline on 01455 894060, at a branch or in writing.

When the notice becomes effective, withdrawals up to and including £250,000 will be processed on the first business day, and credited in your bank account the same business day. No charge will be made for this service.

For withdrawals over £250,000 – These funds are sent by telegraphic transfer (CHAPs), there is a charge for this service (please refer to the current tariff of charges in the Interest Rates for Savers leaflet or on the Society’s website hrbs.co.uk/important-account-information/).

Subject to the conditions above, money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday.